India's Delhivery posts quarterly profit on strong express parcel growth
India's Delhivery posts quarterly profit on strong express parcel growth Oct 30 (Reuters) - Indian logistics services provider Delhivery DELH.NS reported a quarterly profit on Friday, as its express parcel segment recorded strong growth.
Here are some more details:
Consolidated net profit stood at 406.4 million rupees ($4.3 million), against a loss of 503.8 million rupees a year ago
The firm derives most of its revenue from its transport vertical, which forms nearly 86% of the total and grew 22.1%
The transport vertical comprises express parcel shipping and part-truck load shipping, through which smaller shipments from multiple businesses are shipped together
Revenue from express parcel shipping grew 21.7% to 19.61 billion rupees
The part-truck load segment recorded revenue growth of 23.1%
Revenue from operations rose 20.4%
($1 = 95.0250 Indian rupees)
(Reporting by Abhirami G in Bengaluru; Editing by Mrigank Dhaniwala)
((abhirami.g@thomsonreuters.com))
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